HMM Signs New Contracts for 12 Vessels, Investing 6 Trillion Won This Year Alone

Eight 13,000-TEU Container Ships
Four 2,800-TEU Feeder Vessels for 2.1 Trillion Won
"We Will Continue to Pursue Mid- to Long-Term Investments"

HMM has decided to invest in 12 vessels, including container ships, bringing its investment this year alone to more than 6 trillion won.

WUT, a terminal at the Port of Tacoma on the U.S. West Coast operated by HMM. HMM

HMM said on October 20 that it would invest 2.1 trillion won in 12 vessels: eight 13,000-TEU container ships and four feeder vessels, including 2,800-TEU ships.

HMM signed a contract with HD Hyundai on the same day to order eight 13,000-TEU container ships. All eight vessels are low-carbon ships powered by LNG dual-fuel engines. Under the contract with HD Hyundai, six will be built at HD Hyundai Samho in Jeonnam-Gwangju and two at HD Hyundai Heavy Industries in Ulsan. They are scheduled to be delivered sequentially beginning in 2029.

LNG fuel can reduce greenhouse gas (GHG) emissions by at least 23% compared with conventional marine fuel. When used with emissions treatment systems, it can also cut nitrogen oxide (NOx) emissions by 80% and sulfur oxide (SOx) emissions by more than 99%. LNG is therefore considered a low-carbon fuel that complies with International Maritime Organization (IMO) environmental regulations.

HMM is also investing in four feeder vessels through resale agreements: three 2,800-TEU container ships and one 1,700-TEU ship. Resale involves taking over the contract for a vessel that is already under construction, allowing a company to secure the fleet it needs earlier.

HMM plans to deploy the newly ordered 13,000-TEU vessels on the Far East-India-Mediterranean (FIM) route to improve operating efficiency on key long-haul routes. The feeder vessels, which will serve branch routes, will be organically connected to hub ports to strengthen the competitiveness of its "Hub & Spoke" network.

Including this latest vessel investment, HMM's investment this year in fleet expansion, logistics infrastructure, and future technologies will reach 6 trillion won. Cumulative investment since CEO Choi Won-hyuk took office in March 2025 will total 12 trillion won.

HMM's large-scale investments are a preemptive move that takes into account both the shipbuilding period, which typically takes at least two to three years, and the cycles of the global shipping market. Rather than simply expanding its fleet, the company is securing a competitive fleet in preparation for the next shipping boom.

The investments are also based on the company's "2030 Mid- to Long-Term Strategy," which calls for investing 29 trillion won to expand its fleet by 2030 to 166 container ships with a capacity of 1.47 million TEU and 110 bulk carriers with a capacity of 13.52 million DWT.

By business segment, the mid- to long-term strategy calls for the container division to secure feeder vessels alongside large ships as part of its "Hub & Spoke" strategy. As a result, the number of feeder vessels in operation or on order has grown 3.5-fold, from 12 in March 2025 to 42 this year. These vessels are being deployed to build branch networks in regions with strong growth potential, including Africa and India.

Since the second half of 2025, the bulk division has focused on improving its business structure, including diversifying vessel types, and expanding its fleet through long-term contracts. As a result, the bulk fleet has grown from 44 vessels in March 2025 to 60 this year. It has also diversified beyond its traditional focus on dry bulk carriers and tankers to include gas carriers, car carriers, and multipurpose vessels. In addition to ships, HMM is investing in global logistics hubs and digital transformation, including replacing the cranes at its WUT terminal in Tacoma, U.S., with the latest models.

An HMM official said, "Investments in the shipping industry, including ships and ports, are made with a long-term perspective over several years, looking ahead to the future. We will continue to pursue mid- to long-term investments to build the capabilities needed to compete with global shipping companies."

This content was produced with the assistance of AI translation services.